TY  - RPRT
        AU  - Manzini, Paola
AU  - Mariotti, Marco
        TI  - A Vague Theory of Choice over Time
        PY  - 2004/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1228
        UR  - https://www.iza.org/index.php/publications/dp1228
        AB  - We propose a novel approach to modelling time preferences, based on a cognitive
shortcoming of human decision makers: the perception of future events becomes
increasingly ‘blurred’ as the events are pushed further in time. We axiomatise a class of
preference representations which can be specialised to rationalise ‘anomalies’ such as
preference reversals and cyclical preferences. We also present an application to a form of
time inconsistency which we dub ‘the now or never fallacy’.
        KW  - hyperbolic discounting
KW  - time preferences
KW  - intransitive preferences
KW  - preference reversal
KW  - cycles
        ER  -